Located along the Ohio River, the US$21 million facility will make automotive fasteners and nuts and bolts. 

"I believe our investment in Indiana will soon be followed by investments in other parts of the auto supply chain that can serve as a powerful stimulant to Jeffersonville’s local economy," said POSCO chief executive Oh-joon Kwon. Kwon and Indiana Gov. Eric J. Holcomb were both on hand for Friday's ribbon-cutting ceremony. 

"...Having POSCO's presence here – planting a flag right here on Hoosier soil in Jeffersonville, Indiana – will be a magnet," Holcomb said. 

As it is, the plant occupies about 80,000 square feet of space, but a second phase of construction is expected to take it to 136,000 square feet.